TIAA CREF Investment Management LLC lowered its position in HP Inc. (NYSE:HPQ) by 25.9% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 6,190,266 shares of the computer maker’s stock after selling 2,159,493 shares during the period. TIAA CREF Investment Management LLC owned about 0.37% of HP worth $108,206,000 at the end of the most recent reporting period.
Several other hedge funds have also recently made changes to their positions in HPQ. Bronfman E.L. Rothschild L.P. grew its position in HP by 19.7% during the second quarter. Bronfman E.L. Rothschild L.P. now owns 6,167 shares of the computer maker’s stock valued at $108,000 after buying an additional 1,013 shares during the period. American Beacon Advisors Inc. bought a new position in HP during the first quarter worth about $112,000. YorkBridge Wealth Partners LLC boosted its position in HP by 12.1% during the first quarter. YorkBridge Wealth Partners LLC now owns 6,257 shares of the computer maker’s stock worth $118,000 after purchasing an additional 675 shares during the period. First Command Bank boosted its position in shares of HP by 80.0% in the second quarter. First Command Bank now owns 6,714 shares of the computer maker’s stock valued at $118,000 after acquiring an additional 2,984 shares during the period. Finally, TrimTabs Asset Management LLC boosted its position in shares of HP by 88.9% in the first quarter. TrimTabs Asset Management LLC now owns 6,936 shares of the computer maker’s stock valued at $124,000 after acquiring an additional 3,264 shares during the period. Institutional investors own 79.18% of the company’s stock.
In other news, Director Margaret C. Whitman sold 295,952 shares of the company’s stock in a transaction dated Wednesday, July 12th. The stock was sold at an average price of $18.02, for a total transaction of $5,333,055.04. Following the completion of the transaction, the director now directly owns 618,865 shares of the company’s stock, valued at approximately $11,151,947.30. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Margaret C. Whitman sold 147,968 shares of the company’s stock in a transaction dated Monday, June 26th. The stock was sold at an average price of $18.00, for a total value of $2,663,424.00. Following the transaction, the director now directly owns 618,857 shares of the company’s stock, valued at $11,139,426. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 1,587,608 shares of company stock worth $29,785,377. 0.62% of the stock is owned by company insiders.
A number of equities analysts have recently commented on the stock. Bank of America Corporation raised their price objective on shares of HP from $20.00 to $22.00 and gave the company a “buy” rating in a research report on Thursday, May 25th. UBS AG reaffirmed a “buy” rating and issued a $22.00 target price (up from $20.00) on shares of HP in a research note on Thursday, May 25th. Royal Bank Of Canada raised shares of HP from a “sector perform” rating to an “outperform” rating and lifted their price target for the stock from $21.00 to $22.00 in a research note on Thursday, July 20th. Stifel Nicolaus reissued a “hold” rating and set a $14.00 price target on shares of HP in a research note on Thursday, August 24th. Finally, Jefferies Group LLC lifted their price target on shares of HP from $17.00 to $18.00 and gave the stock a “hold” rating in a research note on Thursday, May 25th. Ten research analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has given a strong buy rating to the stock. The company currently has an average rating of “Buy” and a consensus price target of $20.57.
HP Inc. (NYSE HPQ) opened at 19.76 on Friday. The company has a market capitalization of $33.00 billion, a P/E ratio of 14.36 and a beta of 1.93. HP Inc. has a 52-week low of $13.77 and a 52-week high of $19.80. The stock’s 50 day moving average price is $19.18 and its 200-day moving average price is $18.44.
HP (NYSE:HPQ) last issued its quarterly earnings results on Wednesday, August 23rd. The computer maker reported $0.43 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.42 by $0.01. HP had a negative return on equity of 64.93% and a net margin of 4.66%. The company had revenue of $13.06 billion for the quarter, compared to the consensus estimate of $12.31 billion. During the same quarter in the prior year, the business earned $0.48 EPS. HP’s revenue was up 9.8% on a year-over-year basis. Analysts predict that HP Inc. will post $1.65 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Wednesday, October 4th. Shareholders of record on Wednesday, September 13th will be issued a dividend of $0.1327 per share. The ex-dividend date is Tuesday, September 12th. This represents a $0.53 annualized dividend and a yield of 2.71%. HP’s dividend payout ratio (DPR) is 38.41%.
HP Inc is a provider of products, technologies, software, solutions and services to individual consumers, small- and medium-sized businesses, and enterprises, including customers in the government, health and education sectors. The Company provides personal computing and other access devices, imaging and printing products, and related technologies, solutions and services.
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